HomeMy WebLinkAbout0911 . t_....,.,~.~.,.~,...- .
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'I1at li t?~ r?t~ of a wit bd~ imdtw~d w bnelw t~M woe~t~ tM ~sp b~ w3cbd u a~r ~t aqr dea~ dudo~ ;
ew d ~b
~ne~ toe«lowrt wtt e~ tbe oourt \sriat juti~dietio~ ~ for tAs appointmeat ~E • ~et ot stl sod ~tasulu tIK mort~ed tcoPaep. ud '
eE all Kaa. ioooa~ P~e~ bwa aad rsreaua t?enoE. ~ RAaaos~ wuroe derl~ed; and trece~pow It 4 rered~ uprasb coreaaaeed =
a s d a, ~ n
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6
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~ s a o d d u
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i s~ o E reoei~en. io lite ea~a; asd ~aid a ~
e
Doineme.c sksu b• ~.ade by cLe oou~ as s maece~ oE .c~ia ~i=h~ a ~be Mo~s~~~~bone nfenace b me adeqwe~? o~ iaadeqwe~r ~ i i
pa~r w
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a t w o
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p e~? bereb o~ ~s c6e al.
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a e
T oe imotveaq? ot e~s o~ aa~ at6er defeadanc ~o wcy wic.
, Mort~a~o~ rereb ~pedf~ca~l~r ~a t ~ft » objat ts t?e appdatment oE a reoeirer r s f
o r
a
a i d a s d 6
e~
e
br upcs~tr ooo~eub ~
h a
t w
x
b i
. ~PP~taeet skal~ b~ mad~ as aa admiaed ~quitf and as a maner oE abtoluce r1~?t to tbt D~oe~a aad tDat eM ~ame my be doae wictiow ~
oot~ee ~e tbt Matta~or.
i. T6at If as~ proteedtop abouW bt imthutea ~aiat tbt Prope*q? co~?e~ed by tsit oort~a~e npos ~n~r other liea or tlaim wbetDet E
~upecior or nnior eo c6e liea of d~ tb~ Mo~s~ce mq at ta opdoo imwcdiaab upon iauicudoa oE wrcd wi~ or dnrias tbe pead- .
~~alus t6a mo~esap and t~ie i ~aured baeb~ due and p~a?1~ foctbwic6 aad mq at ib optioa p~oeced ts toreelo~e ~
t
,
To pap ol and lu t6e co~d~ fea, e~a and ezpeae~ of r?en? kied. iaeludtns tbs oat ot aa abaact ot tltk oo ~aid laed~ t
fouod eo be cou~aueat or e~ieat in ooao~etioa wit6.anp swt fot tbt toreclaure o~ tsb ~and abo todudio` w~etbc~ t6e I~Mrtptee ~
i~ oblipced top~ ame or not. rsasoaabk st~oroe~~ ~ta incurced ee apended u aq~ dm~ ~ Mort~a~ee becsiae ot tbe f~lture of ~e t
Morcp~or ~ope rfo~q, oowplp wit6 aad abFde b~ all or an~ o~ t6e oo~eaaon. ooodtKoe~ and ~pulaeiaa ot aid P+'~*~7 j
rao in t~e foceebwK of thb mo~qaje and ia aollecans t6e a~eouat ~ec~red baeb~ wtth or witbont kpl prooeediop, aod ~o reiis-
bune~ for snry pqment made or ineurced tor W wc6 purpo~e wid~ iaterat from due o~ e~ery weD p~t a4 t~ rate o~ ~
a~ ~«o~ ~a ) per aunwa; wcr ps~rmeon sod oblIptioa~ wlt6 ioeae~ t~ecaou as :foradd. ~hap bs sxnad b~ the Iim hereof.
1bk~ tbe bdldla~ or bdldiop now ee 6ercafeK oo »id iaod iosuted ~ low or da~ea~e b~ fire. a~eended oo~eta=e aad
oc6er perib~ tnctudins war cist imnrance it a~ailabi~ in a~um bot lea tbas tbdr IuTI iowrsbis vslue st eLe eou aad e:pen~e of e6e Mort-
ga~nr in a aanpan~ o~ oaapania approved b t6e Mortsa~ tbe po1K7 ~ polieia eo be beld b~r t~e ~+loc~a~i snd wc6 poliep o~ potidss of ~
imuanee sbali save affised t6eceto a Stand~Newr Yo~ic Mort,~asce Cla makins dl bN o~ loaes unda ar polieia payable ~ I
tLe Mort~aga as in iatcrat mar ~PPeu. aad ~n deli~er ~aid poliry? or p~o~da ~o tLe Mort~a~ee wLen bwed rcedpt~ for ttie r
aKOt of tbe p~aniws tberefor; and ia tLe eoent aqr sws ofeooae~ beoom~sy~~~
k uada suc6 poliep oe polida, t~e Mort~asee ~ball a~~ ~
t6a optioe to e~cdre and appl~ tbe ame on aoooua of tLe indebtednew seeured- 6enby or ~ permit the Mortp~oc ~o rad~e and we iy or W
~ put t6eraof. !or ot6e~ purpasa„ witbut thereby watrlat or impaidai W eqoi4?. lieo os ~b under oe b~ ~ittue of t6is tno~c~ge• and !
e
6
e Mo~aiee ~ t c dee~ nceasaq m ayp
l a o e a n
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w o r a
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b
e r
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6 a~
e l
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o c e-
~ee'~ optios to foraclae foe breac~ of tkis oo~eaaay or an7 put t~ or aql? ri~6t or opuon under tWs nqrtp~e. snd e~eqr ~ncti pq-
mmt s6a11 bear interat from date tbercaf oatil paid at tLe rate o
f d~l' pa aaR (i 7 f
r ~ p~ annw4 a
o
d d
1 w c
r pay~ab w
i
t
6 i n t
s*
e ~ t as -
a f
o e
a a id sball be .eeured b
y ~he lim 6eraof. Ia the e.ea ao~ las or d a m a~
e L snfferod Maeaa~or sLaU aoe~? Morega~ee of weD 1oM oe
damage wit6in foetT-dj6t (4i) ~ aku tLe happeait~ t6ereof; tle fatlnre ~o si~e sntti aotiee ~6t11 ooouitnte a defanh a n
d t
b e M
a t
~
a-
gee shall 6s~e tLe rig~ts l~erdn ~~ea fo~ al! defa n ie~.
To pera~i~ oom~nit o~ a~ffe~ au waste and ~a maioain tMe Impeo~eseots u sU ttmes ia s~tats ot ~ood repair aod ooodidoa; aod $
a de orpendc t~o be daoe ~o ~aid pranisa aot6tns t~u will aher oe ehanje t6e me asd ebarseter of ~aid properq or in aay wy? impair er
weakeo t6e sewriqr of ~aid mort~a~e. In ase oE the ~efwal. ne~tat ar inabtliq of tbe Mort~a~or ~o repair and maiatata ~aidpro
pert~. tLe
Moresatee ma7. u ia op~oo. make wch repatn or uwe tLe wae to be msde and ad~aoa woaia is t6n be6alf wbkti wms s6a11 be seeured °
~ br tbe ueo 6er~of and bear iocsrat a: t6e r~ce of ei~Lt pa unt (t%) per ~oa~em.
10. To dditer the abtract or ab~traeb o~ t~de ao~ain~ tbe sort~a~ed properq~ to Moetpsee or ib daip~ated asmt, wLieh stiall at _
dl 6mea. durins t?e life of t6is more~s~ rae~io io tbe porewoo ef t5e Mo~ess~e and ia e~eot of tbe tee~eelanre of tLL mor~ase oc at6er
masEer oE dtlq all ri~ 6tk aod jatc~at o~ tbe bsortp~OC ia and to aqp axi ab~traet e~ ~b~traw o~ title ~haU p~ ts tl~e P~erha~ er
~antce. '
11. T6ac no wai~rer ofaa~? oo~eosot ?erdn or L ttie oblipdss saoced rereb~ sball u aq tims ~ereaf~a bt bdd ts 6e a wai~er ~1
any of t6e otber tc~ benof or of ~e oote seeut~d ~ereb~
1Z. 1Uac ia ordu es ~ooderate tLe aaearie~ oE e6e tnd~eedae~ renb~ ~eeored benwe oE t~s fdlurs eE t~s ~t es par ssy as
a~sa~oeat. linbilit~. obllptioa os eoeumbrwee npo~ s~id propaq a~ berejn prorided, it ~all not bs aeoe~sr7 oe~ reqahite t t~e t~o~es
,6an ~irst p.y etie w.e.
li. 13ac if tbe Mo~tsa~os s4all fail, neska or refu~e fio~ s period eE ttiirt7 M~P~7 a P4? tbe ateo~md ra
quired to be paid bp tbe note ~erebr seenred or tbe tntaat t4ada ~peeifi~d or ae~? ot t6e ~ mooe~ ~ada reEerred to ~r 6arb~ ~
aucd. oe etherwbe dat~. faq~ aad prosRqp ~o PerEon0. am~r wit` asd abide eaeb. r~erp ot aq oE t6s oo~eoasbr oood~eiar
o~ stip~Istioos of tii~ soet~a~ tLe~ aae ~e~ebp ~eeared aed/er tbe oomtraaios~ ~eement. if W. the4 aod L dtber er i~
~nr of s~c6 e.ent~ wit6out aoeioe or danaod. the aid sns ma~doaed ia said p~vmi~r aote. kM W7~. ~~7. ~
u~ aad all sums meadoned tienin or seeured bereb~ t~l
beoane due and p~abie fo~6~vtt6 e~ t~aher a t~e ooodnuin~ ~ o~ t1t _
Mo~epta as fnll~ ~nd aompktd~ a~ if tatd a~egate wm~ wae oei~toalir stipn
_lattd 1o be psid st soc5 tim~ ~ayt6tng In sa~ tr~miMee~
nae or 6ua4 m tk aon~ar~ notwtt and t6e M~tpg~ stiall be eatINea t~teupos or t~aeafar wltreut nstioe es dimand to in- -
satote snit at law or inequi to eafora ebe of tbe MurtgaB~e tieeeonder or noder »id peo~er~ aott. Ia ttie e~au of a~? defaWt
or breach oo tbe put of t6e~o~or~p i~~~er nsder said P~ nae. tbe ~ s6a11 ba~e ttie oauiaoin~ opdoo to enforoe
~~r b
paYmeat of dl swm sewred Lerebr by aetioo u 1aw or b~? snit in to foneelae this mottsaae. atber or bot~ oooen~atlp or ot6erwLy
sod ooe actiau or ~uit ~hall na abate or be a bas ~o os wa~~er af ttie -ic~a~e'~ ri~?t ~s ImNtute or maioaio tfe ot~er~ pro~ided ssid Mort-
ss~ee sball hare onip ooe Ps7meat aod sa&fscdoa of asid inde6tedaew.
14. T6at is tLe e~eot tbat Mo ~or sb~all (1) oooseet to t6e appoinnamt ~f a nod~. tr~tee or IiquWator o~ all o~ s wb~anBd
put of Mort~o~'~ a~ea. or (Z) be ~d'~!dkaced a 6sskcupt er imoi~nt, or Sle a~o! petitfao ~a banksupa~ or admit is wsidns id
ioa6iliq t~ pq its deba a~ tLe! beoaoe duu~ or mahe a~eneral w+~ far eLe ~ oE e~ditoes. ot (4) ~le a peation or answee
seduu~ r~oc~ad~tios ae uran wlt6 ereditoe~, or to ake ad~aotste o~ a~r inahme~ 4w. or (S) STe an aoswsr adwitaes t6e ma-
taial alletuioos of a petitiao led a~aicst t6e Mort~a~or ~a aa7 bankraPa7. reorPdratiea er jmohea.7 Peooeedio` or aeBon sLaU be
~ eaken b~ tLe D~Io~ for t6e purpo~e of effaans an~ of tbe fose~oin& or (7) an~ order. jodpnent or deeice sbalt be eotered npoo ao .
applicatioo o~ a ereditor or Mortga~o~ b~ a. aoart of oompeteat !'nrisdicdon appemrt~ a paidoe ~ekinf appdmmeae of a taoei~er oe traKee
~me
of all or a wbstaotid put of tbe Mortea~oe's a~eta aod sneh order. jud~meat or daree ~6aU oo~inoe omta aod ia dfat fer aap peried ef
t6~
ecai aaemed on ~
note a~ al] ot6er s berebr seeured ~hs ~U
beoome to:t6witb due aod pa~jab
bk
~i! alt af t6e ~aid aad~of mooey
were oripnall~ ttipulsted to be paid on weh da~; aod theteopon t6e Moctp~ee wit6o~t aotiae or demaad ~ proi~c~e a adt st law wd/or
in equtep a~ if all mooio ~eeueed bereb~ 6ad matuced p:io: ~o ib t~dcatiaa. ° ~
iS. 'Ibac tbe MoKp~ee or sny per~oa aatLoriud b~ etie Matp~ee ~sll ra~e tLs ri~c a e~ter apos aad ~p~ec t~e s~
prmoi~es u dl rea~oaable tima.
` 16. Tbae anr .mu or s~ns wLicL mq be to~aed or ad.sooed b~ t6e Mo~e~ee eo tbe S3ortsa~or ac .o~ d~ae wtetii. a. (lo) ran
s ~raa tbe date of t6is iodentnre, ~otether ~rit~ intera~t tbereoe at t6e rate asreed apon at tbe time of ~oc~ bm or ~ance, sbaq be tqoalif u- .
euerd witb and La~e tbe same priorih? a~ tLe ori~inal I~debtedeas and be s~iaet to all tbe term~ aod pro~biom of tLis sortp~e: Pr~ri s
r t6at the a~epu amouot of P*~~+P~ ~i at ae~ time sLaU not e~oced aa mouot eqwl tn oae bmdred aad fitty per eent (IS096)
` ~ P~~P~1 amouoR oripna117 ~7•
~ 17. Tbs~ [f req~dred 67 Ssoe~y t5e aW l~o~or wiU p~ u~ t6e 1~loetp~eG o~ t6e 8nt dap of aeL ~od e~er~? coa~eaa~re
r mootb. : w~mcqw! to aortwclfth of tbe soanal aaooust aeoanr~ ts pa~ dl -tata aad a~enme~ apio~t t6e aId sorti~i~ P~'~x+. ~
mont6lr smn to be atimaud suldr b~ Mort~ee a~ a{eulued !o be ae mo~me aot lw t6as t6e asamt of tara awe~ed a~iart said mat-
i~ P~~ P~'~?joas 7ear. aad if fn~tba re9uirod bp Mact~ee ~o Py aU io~araaa peesiaw is m~ooer a~d ioca r p~v~ided
6ereia for .t~e pa~meot of, taza and_ ase~meae. '
1R ltiat b tbe e~eot ttie lou w6ie~ t~ ~ i~ si~ to ~eeore i~ ~~de fo~ tw of ~eLi dt6a t6e aoa~truedo~
~~ew b~dldiop or tbe ooo~tcoedon of impn?emats~ms~%a~ sddtdaa a~ bdildiavr e4r~. i~ a~dred bs ~~s~
szprasl7? a~as to depo~it• witr t6e Noetpca or its dad~oaced aseot aa a~oust ~o~et eqwl t~ eM fi~eaoe 6etwaa tbe aet ~eooad~
~ o~ tbe loaa aad t6e ~dral auouot. a~ dearaatoed b7 tbe D~loe~e. eed /s fuly aompkle aW ooortroedo~ i~ ~ooerdaoos witti ttie plaa
~ aad spedficatioos heritofore sabmitt~d M t6e Moetp~er and
a~~r~~b~ t~t Moet~et. 8dd +~omt oE soee~ ~ap be plaad bj? tM
€ MortPR~ io a"Loaw in P~oeeM Aoooan~' tn tLe name ot t6e , aod d~e wse ~LaU 6~ wed 1' tbe 16ortp~ee to Wf i6e oo~
ebar~es asd apeaw In~wrrsd ia oooaeetion wieb ~atd ooo~tcoe~. wior a C~bws~in~ ot tbb lo.s. It L i~et4r ~Qeed erae i~ tbe e.st
; ~aid oomcnrcdoa is mt fuq~ oompkad o0 0~ befon tbe dats ~aeed L ew e~teoaio~ Loaa oe in t4 e~sot eb~t ebe wo~ic .aa
~ s~Id cooaroedoo s6at1 aate befors fdl oom~ktbs aod wei oe~tttioa ~6a11 caotlnne f~ ~*erLd tes (!0) da ori! ~nb~tabdd eonduoow
= pro~a~ s6a11 not be made ia wch ooo~ua~oe. thea aad ts ~ we~ s~eot ttis Mid a~epte ws, Pdoetpsl ~ iateray meaeiooed in said
4 promi~oc~ note. aod all mooia sxnred tieab~ s6aU beoome dns aod
r p~
1
a
b
k ~witb or ~a~af~ ~t tLe optfoa eE aid Ldoetsa~ee• and i~
tbe eveat of aK6 awattoe oE work npoa r a i~ oomtnetioa !
o e a e c
b d o
t tea (1
0) d a
l ~
r or i
f ~d aoodaoear p~o~er ~al~ not bt
~ made ia sod~ oom~oo. a~ afo~atid. tbe ~~~mq at ib ~ptko e~er i~o and upow t4 p~~~pc~ ~nd oompleoe ~aid eae-
~ raucdon is maeser a~ it deea~ ad.i~abk aap lsterEeeenee beo e~e W«tp~oe: t~e aW ~eKb7? d~s ~ s~dot
~ eo ths 11~lortia~ee fnll pwer aod aut6odtl? a make ~ eatr~ iaw a~d opoo atd ao~ ~w, es auer tow w~i ~oands oe at•
: rao~amena a~ mq be aeoa~sry b oosPkte ~aid ooa~tr~io~. ~ed a espead ~ vooia neea~~ai ~ aid "Leaa ia Praees Aaoamt" aad
to addicioa aa~ wms ot voae~ neoasarp eo eoraplea aid eomtroe8o~: aod ss~ aad aU moata acpaded b~ tbe ~loetp~a in eonneeeioo
~ wiee wcb oaa~pktion ot ooo~aoaba ta esas~ of ehe monia is ssid Zwa~ ia P~oaw Aeobiat" i~U be added a trs sdd ~riodpal debt esd
~ ~
1~~ Isterac at tl~e rue po~ided Is said pe+a~won noty aod ~hall be ~ecared ~~~~j~ Y~ t4 Irlartsape
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